Exam 12: Developing and Managing Products

The following organizational approaches accomplish tasks necessary to develop and manage products: market manager approach,product manager approach,and the ____ approach.

When Conair adds an electrical component that automatically shuts off its curling irons when they have been left on for more than one hour.This improvement would best be classified as a(n)

Time spent in test marketing can benefit a firm's competitors.

Patrick is a member of a consumer marketing panel and has been introduced to a company's new idea for energy drinks.Some of the questions he has been asked are " How often would you buy this product?" and "Which features are of little or no interest to you?" Patrick is most likely participating in the ___ phase of the new-product development process.

Which of the following is the best example of a functional modification?

Test marketing should be conducted when a product has been given a low probability of success.

An important question in the business analysis stage of new-product development is,"Will this product meet our profit goal?"

Identify and describe the three major ways to modify existing products,and give an example of each.

Josh Bowman,of U.S.Hospital Supply Corporation,has responsibility for managing the marketing activities for products aimed at nursing homes and extended care facilities.Josh's job is that of a(n)

Venture team members usually come from the same functional areas within the firm.

Quality modifications never seek to reduce product quality.

Rick is a new product manager for a large bio-chemical firm.He is currently working on a proposal for a new chemical solvent and knows that introducing the new product can be risky because it might fail.He also knows that ___ is risky as well.

When determining how a product is conceived,planned,produced,and even its physical appearance and its specific characteristics,one is really talking about the product's

Sales personnel are an external source for new product ideas.

All of the following are major steps in developing new products except

Why are line extensions more common than new products?

Concerns about cannibalization of current product sales must be addressed in the ____ phase of the new-product development process.

Marcellis is a product manager for a major electronics company.His current project is the development and introduction of a new smartphone.Since there are a number of smartphones currently out on the market,Marcellis is concerned about product failure.Currently,Marcellis and his team are in the screening phase of the new product development process.Has his team already passed the phase which is best able to measure the product failure concern?

New-product development does not include planning for advertising.

Sony's design of its new large-screen television sets with smoked-glass control panel covers and other visual changes would be classified as a(n)____ modification;changes to make the TV's remote easier to use would be classified as a(an)___.